Many South Africans experience financial woes at the beginning of every year. With December salaries paid ahead of the festive season, the temptation to spend it on travel, gifts and family gatherings is highly tempting, leaving some consumers feeling distressed during this time.
Faced with day-to-day expenses, debit orders, school stationery, and uniform requirements, January can be a bleak and anxiety-inducing month.
There are however ways to take the worry out of January. While there are many life hacks and survival guides available on the internet, many do not offer long-lasting solutions aimed at breaking the Janu-Worry cycle, which occurs every year for many South Africans.
So, instead of relying solely on life hacks to save costs on items such as home detergents, why not consider rewards programmes that can multiply your money during rainy days.
Thanks to rewards and cashbacks by local retailers and financial services companies, South Africans can accumulate points and cash rewards throughout the year, and use them to stretch their money for periods such as January.
Johan Kleu, Momentum Multiply Executive Head, says Multiply is one such programme. "It aims to encourage its members to lead healthier, safer and more financially savvy lives, and rewards them with cashbacks."
“We know that money issues can lead to high levels of stress, which in turn has a negative effect on health and overall wellbeing. This is why we promote a savings culture amongst our members by paying all cashbacks which earn 5.25% interest in the Multiply Money wallet,” adds Kleu.
In addition, Multiply members can start saving with cashbacks from retail partners such as Pick n Pay and Clicks.
“South Africans can also take advantage of paying less for travel with Mango Airlines and Emirates and on entertainment at Nu Metro cinemas, thereby freeing up money to be spent on other important needs,” says Kleu.
He urges South Africans to avoid using their points and cashbacks when their financial situations are more stable. “The more they can accumulate with savvy saving behaviour throughout the year, the more they will have in January when their bank accounts are stretched.”